The MF Global Chapter 11 trustee and an insurance subsidiary are battling customer claims to a $120 million insurance policy with the official customer advocate—the MF Global Inc. trustee — standing mostly on the sideline according to customer advocates.

MF Global Inc. Trustee James Giddens has failed to claim $120 million in professional liability insurance due MF Global customers, according to a motion filed on Monday. The MF Global Holdings Ltd. trustee wants those proceeds to pay for the defense of officers with the firm.